As U.S. stocks reverse yesterday’s upward path, turning negative today by more than 1 percent during the afternoon and taking the Dow Jones Industrial Average negative on the year, China’s devaluation of its currency is overblown, according to institutional investor reports. China’s move last night to devalue the renminbi, viewed as an additional measure to prop up its economy by making its exports cheaper, is viewed very differently by Capital Economics. Capital economics says China currency devaluation technical, not primarily economic issue In an August 11 China Economics Update, Capital Economics notes that while many analysts have credited a…
China Currency Devaluation "Technical Move"
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.